The Reds entered an Under-21 side in the competition for the first time last year and won the group, before being beaten 3-2 by Tranmere Rovers in the knock-out stages in December, when Tahith Chong scored both goals.
It proved a thoroughly enjoyable exercise for lead coach Neil Wood, the staff and players, as it provides an excellent test for the youngsters.
The 2020/21 draw was made on Talksport 2 on Tuesday lunchtime, with the Reds the last Premier League club out of the hat, joining Group B.
Wood's side will be up against Morecambe, Rochdale and Salford City, and there will be a lot of media attention around the match with the nearby League Two club strongly associated with members of the Class of 92.